Exness Review
OctaFX Sign Up Bonus
Overall, OctaFX does offer a Sign-Up Bonus of $25 / 342 BWP. OctaFX is very competitive in terms of its trading fees and spreads. OctaFX offers two retail investor accounts as well as a demo and Islamic Account for Botswanan traders. OctaFX has a trust score of 67% out of 100.
- Lesche Duvenage
Jump to:
Sign Up Bonus
Referral Bonus
Additional Broker Bonuses
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.6/5
Min Deposit
USD 25
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
OctaFX at a Glance
| 🏛 Headquartered | Saint Vincent and the Grenadines |
| 🌎 Global Offices | United Kingdom, Hong Kong, Indonesia, Cyprus, Malaysia, Thailand |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2011 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | CySEC, SVG FSA |
| 1️⃣ Tier-1 Licenses | None |
| 2️⃣ Tier-2 Licenses | • Cyprus Securities and Exchange Commission (CySEC) |
| 3️⃣ Tier-3 Licenses | • Financial Services Authority of Saint Vincent and the Grenadines |
| 🪪 License Number | • Cyprus – 372/18 • Saint Vincent and the Grenadines – 19776 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ Regional Restrictions | The United States |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 2 |
| ✔️ PAMM Accounts | No |
| 💻 Liquidity Providers | Unknown |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | From 0.6 pips |
| 📉 Minimum Commission per Trade | None |
| 💰 Decimal Pricing | 5th decimal pricing after the comma |
| 📞 Margin Call | 25% |
| 🛑 Stop-Out | 15% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 500 lots |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | 1:500 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 481 Botswanan Pula or an equivalent to $25 |
| ✔️ Botswana Pula Deposits Allowed? | No |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based OctaFX customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Debit Card • Credit Card • Bitcoin (BTC) • Ethereum (ETH) • Dogecoin (DOGE) • Litecoin (LTC) • Tether TRC-20 (USDTT) • Tether ERC-20 (USDTE) • Skrill • Neteller |
| 💻 Minimum Withdrawal Time | 30 minutes |
| ⏰ Maximum Estimated Withdrawal Time | 3 hours |
| 💳 Instant Deposits and Instant Withdrawals? | No |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • OctaFX App • CopyTrade App |
| 💻 Tradable Assets | • Forex • Index CFDs • Commodities • Cryptocurrencies • Energies • Precious Metals |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | N/A |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, Malaysian, Hindi, Bangla, Thai, Spanish, German, Vietnamese, Portuguese, Arabic, Chinese (Simplified) |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/7 |
| 📞 Botswana-based customer support? | Yes |
| 💸 Bonuses and Promotions for Botswanans? | Yes |
| 📚 Education for Botswanan beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Trader in Botswana | Unknown |
| ✔️ Is OctaFX a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for OctaFX Botswana | 7/10 |
| 🥇 Trust score for OctaFX Botswana | 67% |
| 👉 Open Account | 👉 Open Account |
Sign-up Bonus
OctaFX does offer a sign-up bonus.
A Trader has to deposit at least $50 USD to earn a deposit of $25 USD. The OctaFX sign-up bonus is structured as a + 50% bonus program.
Traders may apply a bonus of up to 50% of their choosing; after the bonus progress reaches 100%, the funds can be invested or used across several accounts.
To begin trading the several markets provided by OctaFX, traders need to register a real account, verify their account, apply for the 50% bonus, set their account’s maximum leverage, and begin trading.
Additionally, investors should know that the bonus is valid only for live trading accounts and not practice accounts. There is no way to add the bonus to an internal transfer, and traders cannot get another bonus until the terms of the first have been fulfilled.
How can I claim the sign-up bonus offered by OctaFX?
To claim the sign-up bonus provided by OctaFX, you typically need to follow a few straightforward steps. After meeting the deposit requirement, the bonus funds should be credited to your trading account. Keep in mind that the exact procedure and conditions may vary based on the specific sign-up bonus being offered, so it’s essential to review the promotion’s details on OctaFX’s website for precise instructions.
What are the terms and conditions associated with OctaFX’s sign-up bonus?
OctaFX’s sign-up bonuses typically come with specific terms and conditions that traders should be aware of. These conditions can include minimum deposit requirements, trading volume targets, and any time limitations during which the bonus is valid.
Referral Bonus
OctaFX does make an affiliate program available in the form of Invite-a-Friend and IB options. By sharing a referral link the trader will receive a commission per volume traded by their friends.
How does the OctaFX referral bonus program work, and how can I participate?
OctaFX’s referral bonus program allows traders to earn rewards by referring new clients to the broker. To participate, you typically need to have an active trading account with OctaFX.
Is there a limit to the number of referrals I can make or the referral bonuses I can earn with OctaFX?
OctaFX may have specific limitations or conditions regarding the number of referrals a trader can make or the total referral bonuses they can earn.
Additional broker bonuses, promotions, and rewards
OctaFX offers a MetaTrader 4 demo account competition as an additional trading advantage. The event, which consists of several bonus rounds, offers Botswanan traders a chance to earn up to $500. Therefore, Botswana traders may win if they finish the round with the highest balance.
Botswanans interested in this broker bonus may download MetaTrader 4, sign up for a trading account or log in, sign up for a Champion contest demo account, and wait for the next round to start trading.
In addition to the demo account competition, OctaFX offers a broker incentive that enables devoted clients to earn rewards and presents depending on their trading behaviour. For example, Botswanan dealers might afterwards become eligible for a prize lot for each lot that is traded.
What types of additional bonuses, promotions, and rewards does OctaFX offer to its traders beyond the standard bonuses?
OctaFX frequently introduces various special promotions and rewards programs that go beyond the standard bonuses. These can include seasonal or holiday-themed promotions, trading contests with substantial prizes, and cashback or rebate programs based on trading volume. Additionally, OctaFX may offer loyalty programs or rewards for long-term clients, providing them with exclusive benefits and incentives. Traders interested in these additional promotions and rewards can regularly check OctaFX’s official website or contact the broker’s customer support for the latest information on ongoing and upcoming offers.
Are there any specific terms and conditions that apply to the additional bonuses and promotions offered by OctaFX?
Yes, like standard bonuses, additional promotions and rewards offered by OctaFX typically come with specific terms and conditions that traders should be aware of. These conditions can include eligibility criteria, minimum trading volumes, time limitations, and any other requirements related to the promotion or reward.
Overall Rating
- 4.6/5
Min Deposit
USD 25
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
OctaFX Pros and Cons
| ✔️ Pros | ❌ Cons |
| Fixed spread accounts are offered to retail traders | US clients are restricted |
| The broker accepts hedging and scalping strategies | There are only a few financial markets that can be traded |
| Negative balance protection is applied to retail investor accounts | |
| The broker is well-regulated and has a decent trust score | |
| There is commission-free trading |
Verdict on OctaFX
Overall, OctaFX is very competitive in terms of its trading fees and spreads.
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Conclusion
Now it is your turn to participate:
Do you have any prior experience with OctaFX?
What was the determining factor in your decision to engage with OctaFX?
Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
Have you experienced any issues with OctaFX such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Frequently Asked Questions
Do I need a verified account to access the OctaFX deposit bonus?
To qualify for the deposit bonus, you must have a verified account.
Where can I access my OctaFX MT4 and MT5 bonuses?
You may access your bonus on your trading platform under “Credit.”
Does OctaFX provide bonuses?
OctaFX provides a deposit bonus and broker incentive to new and current customers, which is the optimal technique to reward traders.
Can I withdraw my OctaFX bonus?
No, you are unable to withdraw trade credit obtained via a bonus. However, you may withdraw your gains with the OctaFX trading bonus.
What does it mean if I cannot withdraw my OctaFX bonus?
If you lack sufficient free margin, you might be unable to withdraw your bonus.
